Ethereum
Why Ethereum is up 1.5% today
Analysis
Ethereum (ETH) rose about 1.5% over the past 24 hours as investors reacted to signs of tightening supply, with Santiment data showing Ethereum staking addresses now holding over half of the ETH supply for the first time, potentially reducing liquid supply available to sell. At the same time, coverage highlighting ETF-flow narratives and cross-chain activity—such as Polygon flipping Ethereum in daily transaction fees amid a prediction-market boom—kept broader attention on the ecosystem even as activity shifted to L2s.
Contributing Factors (3)
Polygon daily fees flip Ethereum amid prediction market boom
Polygon recorded $407,000 in daily fees on Friday, compared with Ethereum's $211,000.
Polygon Flips Ethereum in Daily Fees as Polymarket Oscar Betting Hits $15M
Polygon Flips Ethereum in Daily Fees on Polymarket Surge The post Polygon Flips Ethereum in Daily Fees as Polymarket Oscar Betting Hits $15M appeared first on Cryptonews.
Ethereum Staking Address Now Holds Over Half ETH Supply For First Time Ever: Santiment
The demand for Ethereum staking has skyrocketed despite the asset price crashing back to bear market lows.Â
Move Details
Explanation Confidence
High confidence in the explanation based on source reliability and timing.